A recent analysis by Congress’ Joint Committee on Taxation indicates that President Donald Trump's proposed tax plan offers more substantial percentage reductions in tax bills for lower-income Americans compared to high earners.
On May 12, 2025, House Republicans introduced a 389-page tax bill, dubbed the "One Big, Beautiful Bill," aligning with President Donald Trump's campaign promises.
President Donald Trump has named former Missouri Congressman Billy Long to lead the Internal Revenue Service following the resignation of acting director Melanie Krause. Krause stepped down as the administration moved to align the IRS with Homeland Security to help identify illegal immigrants using tax data. Long, a colorful figure with a background in real estate and auctioneering, is seen by supporters as a bold, unconventional choice.
Illinois House Republicans are calling out Democrat-led state leadership for failing to act on legislation aimed at reducing what is now considered the highest overall tax burden in the United States. Despite a package of GOP-sponsored tax relief bills introduced this session, none have gained traction in the General Assembly.
Dozens of major corporations have warned Washington State’s Democrat-led legislature and Governor Bob Ferguson that proposed tax increases threaten the state’s economic future. The letter—signed by executives from Amazon, Microsoft, Costco, Alaska Airlines, Nordstrom, Zillow, and even the Seattle Mariners—blasts the state's unprecedented spending and tax agenda.
Mississippi has abolished its state income tax, joining Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming.
Seattle’s payroll expense tax on large businesses generated $47 million less than projected last year, with Mayor Bruce Harrell suggesting major corporations are not contributing their fair share. The Office of Economic and Revenue Forecasts released its year-end revenue report on Tuesday, showing actual revenues of $360 million, falling short of the October projection of $406.8 million.
President Donald Trump is working to eliminate federal income taxes for individuals earning less than $150,000 per year, Commerce Secretary Howard Lutnick said Wednesday. Trump’s tax strategy also includes abolishing taxes on tips, overtime, and Social Security while implementing significant reductions in both individual and corporate tax rates.
A Georgia bill that ties property assessments to the rate of inflation is facing pushback from local government entities opting out of the measure. Approved by 63% of voters in November 2024, the bill aims to cap property tax increases, but some officials argue the restrictions could hinder their ability to fund essential services.
